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Web summit summary

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Web summit summary

  1. 1. Web Summit 2014 ‘The internet is not technology. It’s a belief system.’
  2. 2. Hot topics 1. Big data, privacy and security were the major concerns across all disciplines. 2. Branded content is the focus of marketing, creating additional value through storytelling. 3. Brands need to think bigger, beyond marketing, to create additional value for people. Top trends 1. Exponential growth will continue, when done right value is easier to create than ever before. 2. Brands are working even closer with startups to create that value, founding owned incubation programs. 3. Democratisation of the brand consumer conversation - the marketing challenge is getting harder as audiences are shifting from being consumers to creators, who expect more. Key learnings 1. There is a lack of focus on consumer within the tech industry. 2. Widespread collision between hardware and software, and product development and marketing, which is already well underway. 3. We are moving from the socially connected generation to one that desires privacy. Things to watch out for 1. The time for new companies to create great value is reducing exponentially, industry disruption will continue. 2. Facebook has spent £23bn to own some of the top spaces within the AppStore and wider tech landscape. 3. Millennial’s are the audience that all brands are vying for, but they don’t necessarily want advertising. The key insights from this years event
  3. 3. Landscape
  4. 4. The GDP growth in developed economies is not beautiful. With 40% of the world now connected to the Internet, the fastest growing areas are China, India, Brazil and Nigeria. Millennials are less optimistic and more worried than ever that they won't have a better life than their parents. They are finding new routes and solutions to their problems, finding alternative education and creating their own value. Entrepreneurship has become mainstream, leading the charge with a global manifesto with 55m people on Facebook interested in the topic. Every sector is now up for grabs as company lifespans are now 10 years not 50 as used to be the case. Software, media and travel have changed, but retail and ecommerce are yet to revolutionised. “Take risks! You're likely to lose 62% of your time and money anyway. Learn by doing.” It takes less and less time to create extraordinary value, seeing a Moore’s law like growth curve, with the time involved to create the next big thing rapidly decreasing. The Klein Report – Saul Klein, Index Ventures
  5. 5. Peter Thiel – Founders Fund, PayPal Peter Thiel spoke about Silicon Valley’s ‘change the world’ mission, combining big ideas, technology and the right team of people. All present in the valley, driving their #1 tech and business position. Perpetuated by entrepreneurs focus on businesses that enable them to have a monopoly, Amazon is a natural monopoly. Thiel’s current focus is the fight against aging, linking the majority of diseases to being a result of this process. An interesting point made was the idea of ageing as the next key problem for Silicon Valley to ‘solve’ and how exploring the causes of aging could drive a lot of innovation in medicine. "We should always replace questions about the future with questions about human agency” Talk here: http://youtu.be/Bqsdh-6y- d8?list=PLxptNs2MLOjnmKh9GQbjGOfg3BMxHXASb
  6. 6. It is clear that todays audiences are not only engaged, but more involved, particularly in content, shifting from curation to creation. This is best represented by the growth of citizen journalism, a theme that stood out. News coverage is changing, led by an engaged, and activist Gen Y through mediums such as Youtube and in conjunction with brands such as Vice. The BBC has recently launched BBC Trending, am interactive platform for popular videos and consumer-generated coverage. Vice has expanded its citizen journalism platform and is also launching new genre specific news channels e.g. environmental. Vice have talked a lot recently about how contrary to popular thought, Gen Y is very engaged politically and in the news, becoming a major platform for them. Saying it’s seen an exponential growth in followers to these specific channels. The functionality of mobile devices is allowing individuals the immediacy to capture content and the ability to achieve very professional production quality. The web is being atomised, then being reassembled by individuals to map a point of view they have. The content shift – BBC and Vice
  7. 7. Technology
  8. 8. Apple Pay is managed by Stripe, who also supports Alipay payments in China. They are also facilitating Twitter and Facebook payments. Collison sees the size of Stripes potential business as “a question of how big online payments could be”. Their aim is to build a payments ecosystem to enable apps and companies to integrate mPayments into their platforms better. We are 10yrs away from majority of payments going through mobile. Next mission is to help US and international brands enter the Chinese market. Stripe – Mobile Payments, John Collison, CEO and Founder Talk here: https://www.youtube.com/watch?v=hpoiGg-NFR8
  9. 9. The biggest area of focus for the company is research and development to drive the industry forward. A major undertaking for a startup, leading to the essential relationship with Facebook. The companies future is rooted in gaming, fun entertaining and interactive experiences. VR is going to change human interaction, and will be the future of long distance communication, reducing travel and increasing productivity. The next headset will be advanced enough to be consumer facing, with the aim of moving towards a light weight headset similar to sunglasses. Technology is being used to help war patients work through their trauma, using expansive sensory experiences including smells and sounds. Oculus Rift – The Future of Virtual Reality Talk here: https://www.youtube.com/watch?v=9tz6gai51Mo
  10. 10. Both would be surprised if fitness trackers survive for much longer and expect that they will be integrated into other things. All companies are focusing on consolidation across software and hardware, shifting away from a single product focus to a more holistic approach. It's not just about the design of product, but also the service with it. However, there are still huge software opportunities e.g. Uber didn’t need a device. Business need to rethink the current method of doing things, start ups focus on the product and business model first. The Future of Wearables - Liam Casey, PCH and Tim O'Reilly, O'Reilly Media
  11. 11. Launching a Handset in Asia - John Sculley, Zeta Interactive The ex CEO of Apple is launching a new brand of affordable phone in China and Asia, targeting a younger audience. Having recruited a large amount of design talent from Apple, their are execute a vision of combining design with affordability. Looking to provide a disruptive price ($100-150) with superior customer experience, to scale a new competitor within the largest growing smartphone market in the world. Talk Here: https://www.youtube.com/watch?v=QtMQ5xCP8dE
  12. 12. Marketing
  13. 13. The future of online media – Mike McCue, Founder, Flipboard and Jimmy Maymann, CEO, Huffington Post The brightest days of journalism lie ahead of us, it is still about content, still about narrative and reaching audiences. The format is changing but this provides a big opportunity with new ways to tell stories in more contextually relevant moments. Mobile = shorter stories, whole set up is different. Huffington post traffic is shifting, with mobile growing from 18% to 60%. As a result they are working with the dramatic architectural change that has happened to the web. Passive personalisation across all platforms is their strategy to develop how they meet customer needs moving forward. This move to mobile engagement has affected publishing times, as peoples consumption patterns are different, the majority of which is shifting to early morning and then again from 5pm onwards. Breaking news is published as it comes, while lifestyle etc is published at suitable times. Huffington post have a partner studio on the business side, that is a team of strategists who look at bigger brand purpose and potential partners - e.g. Johnson and Johnson It is not about banner ads, you need to have content to have conversations. Brands address things that their audience would find interesting anyway, so must build from this, e.g. in Vogue, the ads are part of the reason you by the magazine. Flipboard are developing an algorithmic approach, enabling human curation to reach maximum audience. They understand that the future of the small independent depends on type of media that brands are buying. Independents don't have scale and reach, but provide niche audiences that brands may be targeting, We need to think about the publishing method differently dependent on how different audiences are consuming it. Rapid change is occurring in how you package and then monetise your content. Talk here: https://www.youtube.com/watch?v=gmE9XEd9- 2M
  14. 14. Know the users, know the magic and find a way to connect the two. Think about marketing in a really simple way, knowing the user whoever they are and wherever they are. Storytelling is a huge part of your job as a marketing professional. Too much of marketing today is about trying to make people do something, focus on making people think something and feel something. As part of this, Google’s challenge is to translate what is inside the minds of their engineers and what they are passionate about. To tell a simple story using the Google products; it’s a mash up of science and art. Single biggest part of the job for Google is building technology and tools that help peoples lives and marketing’s role is to make people aware of this. Now focusing on how they help people shift from a desktop view of Google to a mobile view of Google, permeating technology throughout their lives - Android is a movement, not a platform. It is our obligation to create experiences that users can participate and really feel something, digital provides this opportunity. ‘Think and feel storytelling’ – Lauren Twohill, CMO, Google
  15. 15. Brand Content – Alexander Koppel, CCO, Red Bull Media House Red bull got into the media business right from the founding of the company, it’s incorporated in their DNA and has been built from there. Everything Red Bull do relates back to their philosophy of inspiring people. Starting by creating stories and developing this to creating new multi-platform experiences, initially across publishing and video, then expanding to mobile and digital formats. Continuing to run print, TV, and digital as separate businesses. Using these channels as their regular media products, their magazine has circulation of 2.5m every month. Everything has to be about storytelling, that is authentic. Something that is achieved by working with athletes of the highest caliber to create aspiration. Then using their channels to build bridges between what their athletes do and their audiences want. A core part of their business is leveraging and licensing their brand and its value for partners and other companies.
  16. 16. AKQA focus ADDvertising. They believe that advertising is bullshit, whatever they do needs to add value to people's lives. If people love you, they become champions of your brand. Remarkable redefines. Agencies and brands have to have a vision so big that they are shitting themselves, as it’s the only way to redefine an industry and create great experiences. We should be simplifying through technology, creating remarkable services and make those experiences memorable. By doing this AKQA helped Delta airlines, who were struggling at the time, become the number 1 airline in America. Create remarkable inflection points by encouraging naivety and being deliberate beginners, trying things new and never done before. Every person in a team is a maker and should be enabled and expected to contribute (bringing gifts), allow makers to make. Empower and allow people to hack, make and not be restricted by traditional roles. Key questions to repeat to yourself and team. 1. When are you going to be remarkable? 2. Is the Product frictionless? 3. Are you curious? 4. When is your inflection point? A Point of Inflection – Ben Jones, AKQA
  17. 17. The Dazed group has an audience of mainly millennial females across Europe and represent the cutting edge of pop culture, telling stories that no one else can tell. As a result have seen a 500% growth year on year. Some of Dazed’s stories go through and become the mainstream after a while and brands work with them to create this level of conversation. For example, it is the 5th year of Converse emerging artist initiative, which has put them in the conversation with millennials. They have completely different set cultural attributes to vice, Dazed is not about news, it’s about culture. VOX media, Contently, and medium are much more interesting as comparisons. They monetise through selling premium ads on their site to brands, but are heavily creatively involved in the ads being served to ensure they fit within the content. Very firm on the new outlook of millenials and Jefferson champions the fact that some of their audience just don’t want to be advertised to, so they will not be advertised to. Millennials and New Media Models – Jefferson Hack, Dazed Group
  18. 18. Thanks

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